Spotify to hike subscription plans in Nigeria by 9.1% effective September

Music streaming platform Spotify has revealed that it will increase its premium subscription plan by 9.1% across selected markets, including Nigeria, starting from September. The development, according to the Swedish-based platform, is part of the move to improve its earnings. 

In a blog post on Monday, Spotify announced that the price of its premium individual subscription in markets such as South Asia, the Middle East, Africa, Europe, Latin America and the Asia-Pacific region will increase from €10.99 to €11.99, effective September.

“To continue to innovate on our product offerings and features and bring users the best experience, we occasionally update our prices,” the company said. 

According to the company, subscribers in affected countries will start receiving email notifications over the next month explaining the price adjustment and its effective date.

The last time Spotify made a price adjustment was in 2023 when it increased its subscription plan by €1 from €9.99 to €10.99. The adjustment that first took effect in its United States market before extending to other markets was attributed to aiming for profitability after years of prioritising user growth.

However, the latest price hike comes amid its growing push for sustainability and profit across its market. With rising operational costs and taxes related to employee compensation, the company’s financial books are not looking up despite a strong global demand for streaming. 

Also Read: Spotify said it paid $100m+ to podcasters in Q1 2025 amid audio to video expansion.

Spotify’s performance so far in 2025

The streaming giant has recorded an encouraging run during the year with its total monthly active users (MAUs) growing by 10% year-on-year (Y/Y) to 678 million in Q1 2025. Its premium subscriber base also grew by 5 million, representing a 12% increase Y/Y, bringing the total to 268 million. The 5 million additions marked the highest quarterly growth since 2020 and the second highest in Spotify’s history. 

In its released earnings during the quarter, total revenue rose by 15% Y/Y to $4.8 billion and a record-high operating income of $528 million, which surged by 12.%. The figure was, however, below the company’s projected income of $625 million for the quarter.

In addition, Spotify’s premium revenue witnessed a growth of 16% Y/Y, which was fueled by subscriber gains and ARPU increases, while ad-supported revenue grew by 8%. In profitability, premium gains (from premium subscriptions) were mainly driven by audiobooks and music, with ad-supported gains fueled by podcasts and music. 

The platform also paid over $100 million to podcasters globally in Q1 2025. The figure comes amid the rising expansion of its adoption of music in video content, representing the first time the company has paid out more than $100 million to its podcasters. 

While it explored mediums to gain increasing popularity and more creators, the streaming giant launched the Spotify Partner Program in Q1 2025, an initiative designed to provide creators additional ways to monetise their content.

Through the product, Spotify saw total earnings for participating creators grow by 23% month-over-month from January to February, and 29% month-over-month from February to March. There was also a significant increase in video podcast adoption, with active monthly video podcasts increasing by 28% since the program launched.

While it’s yet to release its earnings for Q2 2025, the Swedish company projects an 11 million addition of MAUs to 689 million and a premium subscribers’ addition of 5 million to 273 million. Also, it expects an increase in total revenue to $4.9 billion and an operating income of 614 million. Meanwhile, Spotify warned in July that its quarterly profit would likely fall short of market expectations.

Spotify continues to solidify its grounds as a top player in the music streaming industry by successfully beating competitors like Apple Music and Amazon Music, while also rolling out its AI Playlist offering to over 40 markets, including the Bahamas, Fiji, Ghana, Jamaica, Kenya, Singapore, and more.